Nasdaq Falls After Morning Rally, Gold Price Soars to Record High

The US stock market experienced a mixed session on August 5, 2026. The Nasdaq Composite dropped 0.5% after initially rising in the morning, while the Dow Jones Industrial Average gained 0.9%. In contrast, the S&P 500 remained relatively flat.

SpaceX's shares fell 10% due to Elon Musk's announcement of significant AI spending plans. This move caught investors off guard and contributed to the decline in the company's stock price.

The precious metals sector performed well, with gold prices soaring to $4,260. The metal rose by 182.10 points, or 4.47%, with an intraday range between $4,064.80 and $4,268.60. Silver also rallied strongly, gaining 2.69 points, or 4.53%, and ranging from $59.28 to $62.89.